Chinese Consortium to buy Opera Software ASA for $1.2Billion

Opera Software ASA, the company behind the world famous Opera Mini Browser, is the subject of a $1.2billion buyout offer from a consortium of Chinese firms. The consortium consists of Chinese tech firms Kunlun and Qihoo and investment funds Golden Brick and Yonglian.

The buyout bid has been positively received by board of Opera, which in turn has been encouraging its shareholders to accept the offer. The $1.2 Billion offer translates to a $5.6 per share which is a premium of 50%, which makes it more than likely that most shareholders would accept the buyout bid.